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Self-storage comes to the Philippines Banker Celina Martinez-Coronel needed a lot of storage for the documents of her family-owned Insular Rural Bank and other records of their financing business. Fortunately, husband Edgar Coronel (former president of the Cinderella Marketing Corp.) heads his family-owned real estate business, Panorama Development. Since the company leased warehouses in Taguig, it dawned on Coronel and her sons Mark and Carlo to use their warehouse as storage facility. The brothers picked up the idea from the US. The New York Times quotes the Self Storage Association as saying that one of 10 households rent self-storage units, largely for emotional ties, not wanting to part with their possessions.

SINCE time immemorial, space has always been a prized commodity. But in today’s frenetic fast-paced world, compact urban spaces have proven their undeniable practicality. Offering accessibility and amenities, Manila’s real estate landscape has become a reflection of the dynamism typically found in major cities like Tokyo and New York. After all, what vibrant individual doesn’t want to be in the center of it all? Unfortunately, any advantage always comes at a cost and more often than not, space is that usual trade off. With this new trend of compact condos and apartments, today’s urbanite is faced with the challenge of fusing the need for storage space with the ease of city living. But indeed, as young designer Vanna Malvaiz enthuses, “any form of scarcity breeds creativity.”

Philippine Star: Brothers See Huge Business Potential of Self-Storage Facility in Phl

MANILA, Philippines – Brothers Mark and Carlo are chips off the old block. With their parents’ core business being leasing out warehouses and buildings they own, the brothers said they “tweaked” the concept and came up with the idea of breaking down some of the vacant spaces in their family’s buildings into small storage spaces – enough for a condominium unit owner to stash extra pieces of furniture or an entrepreneur to store documents or goods. Mark and Carlo said they believe their parents, Celina Martinez-Coronel and husband Edgar Coronel, would be proud of what they have accomplished. “Specially now that it’s doing well,” Mark added.